Vancouver-based Prime Mining Corp have announced the kick-starting of their gold-silver project in Mexico following the recent closing of their $8.7million financing and subsequent call to trading.
On September 3rd, Prime’s Executive Chairman Daniel Kunz, Chief Operating Officer Greg Liller and Vice President of Exploration Bruce Kienlen visited their project at Los Reyes and met with members of the local community in nearby Cosala.
On September 6th a general meeting of the local community was held who voted unanimously to support Prime’s project at Los Reyes, giving the green light to commence work on the ground.
COO Greg Liller commented “I am very pleased with the success of our recent meetings with local government and community officials and the communal landowners of the Los Reyes project. We came away from these meetings with an overwhelming endorsement by the local community for our planned mine development.”
5000m trenching and surface sampling begins
Despite many years of exploration in the Los Reyes area, with thousands of metres of drilling and ongoing geological and engineering studies, no company ever conducted systematic surface trenching across outcropping mineralization. Prime’s trenching and existing drill road sampling program is designed to provide valuable surface assay data to be used in conjunction with down dip drill data for our planned updated resource estimation.
Based on resource projection distances cited in Los Reyes technical reports, available on SEDAR, near and at-surface geologically modelled blocks are reported as waste in some instances and inferred in others. The current trenching program will provide greater confidence in the conversion of these blocks to indicated resources for the upcoming resource estimate. These historic technical reports and data identify several structures with no drill holes that are within or near the hanging walls of planned open pits. These structures will also be systematically sampled in order to establish their potential to affect project economics.
About Prime Mining Corp (TSX.V: PRYM)
Prime Mining is an ideal mix of successful mining executives, strong capital markets personnel and experienced local operators who have united to build a low cost, near-term gold producer at the historically productive Los Reyes project in Sinaloa, Mexico. The location boasts a mining history spanning hundreds of years of activity alongside a stable and established regional mining infrastructure. Decades of extensive fieldwork and technical study have positioned Los Reyes to advance to gold production quickly and cost effectively.
In addition to its readiness for near-term gold production, Los Reyes holds substantial resource upside based on open extensions of known resources, 10 kilometres of undrilled strike length and at least 8 additional exploration targets.